All was ready to complete my purchase in Westcombe Park next Thursday. My conveyancing practitioner now wants me to supply her with proof of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the bank. What does the insurance need to cover?
All property lawyers on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 instructions. These obligations are not specific to conveyancing in Westcombe Park.
Finally the sale completed on my house in Westcombe Park last August yet the purchaser is Skype messaging every few hours complaining that their solicitor needs to hear from mysolicitor. What are the post completion sale legalities following completion?
Following your house sale your lawyer is obliged to deliver the transfer deeds and all of the paperwork to the purchaser's solicitors. Depending on the transaction, your lawyer must also evidence that the home loan has been discharged to the purchasers solicitors. There are no post completion procedures peculiar conveyancing in Westcombe Park.
I am buying a end of terrace house in Westcombe Park. We would like to carry out a loft conversion at the house.Will legal conveyancing on the property involve checks to see if these alterations are allowed?
Your property lawyer should check the registered title as conveyancing in Westcombe Park will sometimes identify restrictions in the title documents which prevent categories of alterations or require the permission of a 3rd party. Many extensions call for local authority planning consent and approval in accordance building regulations. Many locations are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. It would be sensible to check these issues with a surveyor ahead of any purchase.
Can I be sure that the Westcombe Park conveyancing solicitor on the Co-operative panel is any good?
When it comes to conveyancing in Westcombe Park getting recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always suggest that you speak with the lawyer handling your transaction.
I have today made my last payment due on my mortgage with Santander. I assume I don't need a Westcombe Park conveyancer on the Santander panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Santander mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Santander mortgage from the register. Santander, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Santander has sent the Land Registry the discharge electronically, and
- Santander has instructed the Land Registry to do so
Me and my brother own a terraced Edwardian property in Westcombe Park. Conveyancing lawyer acted for me and Skipton Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, the second leasehold with the matching property. I'd like to know for sure, how can I find out??
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Westcombe Park and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the situation with the conveyancing solicitor who conducted the purchase.
I have been on the look out for a flat up to £235,500 and identified one close by in Westcombe Park I like with a park and transport links nearby, however it only has 52 years unexpired on the lease. I can't really find anything else in Westcombe Park in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a mortgage the shortness of the lease may be problematic. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
I work for a reputable estate agent office in Westcombe Park where we see a number of leasehold sales put at risk as a result of short leases. I have been given conflicting advice from local Westcombe Park conveyancing firms. Please can you confirm whether the owner of a flat can start the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
My wife and I have hit a brick wall in negotiating a lease extension in Westcombe Park. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a missing freeholder or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to judgment on the price payable.
An example of a Lease Extension decision for a Westcombe Park property is 73 Walerand Road in August 2012. the result of the findings of the Tribunal led to a premium to be paid for the extended lease in respect of Flat 73 in the sum of £10,040. The premium applicable in respect of Flat 85 was £5,710. This case related to 2 flats. The unexpired lease term was 72 years.